With yarn prices dropping sharply following the steep decline in cotton
prices , textile mills , which bought cotton when prices were ruling at
historic highs , have started to feel the pinch . Textile mills , which
have about 65 lakh bales (1 bale = 170 kg ) in cotton stock, are staring
at losses of over Rs 20,000 per candy (1 candy = 356 kg ) due to the
steep fall in prices .

This would amount to an estimated loss of Rs 6,000 crore for the
industry , according to the Confederatio... Continue reading ...